Real Estate sales in Saskatoon were up 41% in July from 2019 totals.

That according to the Saskatchewan Realtors Association who report there were 550 sales last month up from 390 the year before.

CEO Jason Yochim says says an important factor of sales being up is the average transaction generates around $54,000 of economic spin off. Which, he says, is money being spent in multiple areas including renovations, and landscaping which is a great thing for the economy coming out of the pandemic .

Yochim says low inventory maybe causing a bit of anxiety around demand. He explains the supply is supposed to feed that demand and is still picking up from the postponed markets in the spring. Yochim says it’s a good time to buy due to interest rates, but Saskatoon is currently in a sellers market and has been slowly heading that way the last two to three years with the number of new listing declining, combined with heated demand for property.

Around the province real estate sales in July were very consistent with the numbers in Saskatoon, however, Yochim says there are a couple of pockets in Prince Albert and North Battleford that saw a 60% increase from last year.

Some more stats from July:

• Sales were 36.7% above the 5-year average
• Year-to-Date sales in Saskatoon rose 4.1% over last year.
• Sales volume was up 49% in the city, from $129.4 million to $192.8 million in 2020 (38% above the 5-year average)
• The number of new listings did rise in July 9.1% compared to this time last year.
• The Meridian home price in Saskatoon increased from $316,000 to $338,000